Soybeans were higher on commercial and technical buying. There’s talk of China buying U.S. beans and world vegetable oils are showing more strength this week. Several global vegetable oils notched new highs ahead of the U.S. open, including palm oil, Canadian canola, and Chinese soybean oil. U.S. harvest activity and planting in South America are both ongoing. Stateside, harvest conditions generally look good aside from some rain delays, while there are concerns about the impact of La Nina on production in Argentina and Brazil.
